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LI company earnings: posts $12.7M quarterly profit, Carle Place

Online retail flowers and gifts

Second Quarter: Ended Dec. 27

Net income: Profit of $12.7 million, compared with profit of $14 million in the same period last year.

Net revenue: $238.5 million compared with $251.6 million in the year-ago quarter.

Outlook: "We believe our enhanced merchandising and marketing programs are beginning to resonate with our customers and we are cautiously optimistic for the second half of our fiscal year, which includes the key Valentine and Mother's Day holidays as well as the spring floral gifting season," chief executive Jim McCann said.

"Also during the fiscal second quarter, we successfully launched our new business by leveraging 1-800-FLOWERS.COM's strong brand equity, online traffic and customer database along with the great product design, sourcing and confecting capabilities of our DesignPac Gifts business," McCann said.

Company statement: "Revenues for the quarter were in line with our guidance and reflect lower wholesale orders in the mass market channel as well as soft demand in our consumer floral business."

- Joseph Mallia

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